The premium for European Union carbon permits for December over United Nations Certified Emission Reduction offsets expanded to a record as supplies of CERs are set to grow in November by the most in 10 months.
The differential, traded as a separate contact on London’s ICE Futures Europe exchange, widened 1.3 percent to 7 euros a metric ton at 10:17 a.m., the biggest since the contract began trading in 2008.
The UN is scheduled to create more than 35 million new CERs in November, a jump of 29 percent from October and the most since January, according to data from the UN Framework Convention on Climate Change website.
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